Big Drop in Lending to Landlords

June 17, 2016

In its recent press release by the  Council of Mortgage Lenders (CML) they headlined that Home-owner house purchase lending was down in April.

They mentioned that Home-owners borrowed £8.1bn for house purchase, down 40% month-on-month and 4% year-on-year. First-time buyers borrowed £3.9bn, down 11% on March but up 15% on April last year.

Landlords borrowed £2.5bn, down 65% month-on-month and 7% year-on-year.

Paul Smee, director general of the CML, commented: “There is a sense of calm after the storm this month, as lending eased back, following the significant rises in activity in March as borrowers looked to beat the second property stamp duty deadline. We expect the market to take several months to return to its previous levels after the lending surge”.

To read the CML press release in full click here

 

 

 

 

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

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